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REHOVOT, Israel, April 7REHOVOT, Israel, April 7 /PRNewswire/ -- D-Pharm announced today that it received notice from Israel's Chief Scientist's Office (CSO) of its commitment to match expenditures on four of D-Pharm's R&D programs with a total grant of up to NIS 11 million (over $3 million).
Alex Kozak, PhD, CEO and President of D-Pharm, said "We are grateful to the CSO for this vote of confidence and its firm support over the years, from the time of the company's inception as a technological incubator. The CSO's backing has helped us to build a robust pipeline with two advanced clinical stage products in stroke (DP-b99) and epilepsy and migraine (DP-VPA) followed by an exciting range of preclinical developments in Alzheimer's disease, cancer and psoriasis".
D-Pharm's drug-development programs emerged from the company's unique platform technology of lipid-like medicine. The CSO grant supports four major company developments: GMP production of DP-b99 in-house, IND preparations and initiation of a pivotal Phase III trial in stroke patients; a Phase II migraine study of DP-VPA in Israeli medical centers; and two preclinical programs, DP-460 for Alzheimer's disease and LipidoMimetix for cancer.
The Chief Scientist's Office has supported D-Pharm since its establishment, providing grants of about $18 million, excluding this latest announcement.
About D-Pharm Ltd.
D-Pharm (www.dpharm.com) is clinical stage biopharmaceutical company pioneering the development of lipid-like therapeutics and has generated a rich pipeline of patent protected proprietary products. D-Pharm's pipeline includes advanced clinical stage products DP-b99 for treatment of acute ischemic stroke patients and DP-VPA, a novel drug for treatment of epilepsy, bipolar disorder and prophylaxis of migraine. D-Pharm recently received Israeli health ministry approval to commence a Phase II study of DP-VPA in migraine patients. DP-460 is in preclinical development intended as an oral, disease-modifying therapy for Alzheimer's disease. Other mimics of bioactive lipids, LipidoMimetix, are at an earlier developmental stage, for cancer. D-Pharm recently completed a $5 million rights issue to ensure timely commencement of the pivotal Phase III study of DP-b99, in acute stroke patients, as planned.
For further information please contact: Tami Horovitz, PhD. Tel: +972-8-9385100 Fax: +972-8-9300795 Email: thorovitz@dpharm.com <end_table
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